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UAE to invest $2 billion in India to develop food parks

The United Arab Emirates hopes this investment will help improve the food shortage situation in South Asia and the Middle East.

The intention in these food parks is to bring farmers, processors and retailers together in one place where they will work in close conjunction using modern technology, which should minimize waste, save water and fuel, improve working conditions and maximize crop yields.

The UAE is not the only country to have projects to support

The UAE has already announced its support, and according to a statement regarding the project, other countries have been mentioned to support this effort to promote food security. It states.

“The US and Israeli private sectors will be invited to provide their expertise and offer innovative solutions that will contribute to the overall sustainability of the project.”

With the current global food market situation, fuel prices and clean energy efforts, a virtual meeting of top officials from India, Israel, UAE and the US have been called. The UAE’s announcement came before this summit, so whether other countries will join the initiative will likely be seen after this virtual summit.

The global problem started to worsen during the Covid-19 pandemic when farmers started to experience production problems due to large-scale measures and the already rising costs of production.

Indian National Flag tricolor from food

Read also: India’s coal imports continue to grow despite high prices

Now, in the current geopolitical situation, where global food trade, for example, is greatly affected, Ukrainian grain exports are still far below normal export capacities.

At the same time, many countries, in an attempt to protect their domestic market, are restricting their food exports to the world, and in this way, the supply of food on the world market is being further restricted and the price of food is rising. We have seen this with India, for example, which restricted its wheat exports some time ago.

United Nations agencies warned this month that the war in Ukraine and climate change could drive hunger and mass migration to unprecedented levels.

Bruno is an Investment enthusiast with several years of experience in the industry. He enjoys following the latest news and technology trends...

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